Wachovia

Wells Fargo & Co beat Wall Street estimates with a 20 percent increase in fourth-quarter profit, boosted by improving credit quality and continued loan growth.

A former unit of General Electric Co. (GE) agreed to pay $70.35 million to U.S. regulators to resolve complaints about the company's role in anticompetitive activity in the municipal bond investments market.

Wachovia Bank, owned by Wells Fargo & Co, agreed to pay $148 million in a settlement with state and federal authorities over allegations of bid-rigging and other abuses in the municipal bond derivatives market.

The SEC on Thursday charged Wachovia Bank N.A. -- now Wells Fargo Bank following a merger in March 2010 -- with fraudulently engaging in secret arrangements with bidding agents to improperly win business from municipalities and guarantee itself profits in the reinvestment of municipal bond proceeds.

Wells Fargo & Co is well positioned for upcoming stress tests of the largest U.S. banks, Chief Executive John Stumpf said on Tuesday.

Wells Fargo & Co plans to cut technology and operations jobs by the end of this year as the bank tries to eliminate more than $1.5 billion of quarterly operating expenses.

Wells Fargo & Co., the fourth-largest U.S. bank by assets, is launching a boutique business to serve families with $50 million or more in assets, as more banks look toward wealth management to replace transaction-based fees.

A controversial weapon could be deployed soon in the U.S. fight against the housing crisis as states and top banks near a deal in their dispute over mortgage abuses -- cutting the mortgage debt owed by homeowners.

Don Truslow heads a trade group for chief risk officers, but he used to oversee risk taking at Wachovia, a bank that nearly collapsed under the weight of its bad assets in 2008.

Wells Fargo & Company (NYSE: WFC) said its third quarter earnings grew 21 percent on improving credit quality. Its earnings came in above Street's view.

Redwood Trust, a California-based REIT, is about to launch its second private-label RMBS of the year, a US$375.2m prime-mortgage offering called Sequoia Mortgage Trust 2011-2 (SEMT 2011-2), according to a presale report released on Wednesday by Fitch Ratings.

Harris Williams & Co. has hired Mike Wilkins to help the investment-banking unit of lending giant PNC Financial Services (PNC.N) become involved in more Silicon Valley deals.

Robert Kelly, the chief executive of Bank of New York Mellon Corp. (NYSE: BK) was recently fired reportedly because of his “abrasive” personality and management style.

The chief executive of Bank of New York Mellon Corp. Robert Kelly was fired on Wednesday reportedly because of his “abrasive” personality and management style.

Citigroup Inc's second-quarter profit jumped 24 percent as the bank lost less money than expected on bad U.S. loans.

Citigroup Inc has entered into exclusive talks with a bidding group to sell its OneMain consumer lending unit formerly known as CitiFinancial, the Wall Street Journal reported, citing a person familiar with the matter.

Wells Fargo won't let employees plug personal smartphones into the bank's IT system. The bank issues Blackberry's not iPhones to many employees for company work.

A federal judge signaled that she would approve a settlement calling for Wells Fargo & Co to pay $32 million to about 1,200 female brokers who claimed they were paid less than men and denied promotions because of their gender.

Wells Fargo & Co , the fourth-largest U.S. bank, posted higher quarterly profit, but its results were shaped by the same trends as most of its rivals, which is unusual for a bank known for outsmarting competitors.

Wells Fargo & Co , the fourth-largest U.S. bank, posted a decline in revenue, and shares fell 4.9 percent as a bank known for outsmarting rivals turned in an average performance.

Wells Fargo & Co will by mid-May hire more than 1,000 people for its retail banking operations in the mid-Atlantic region, ahead of a planned fall rebranding of its Wachovia locations.

Wells Fargo & Co's chief financial officer will retire after taking nearly a half year of unpaid leave and will be replaced by the bank's administrative chief.

The U.S. Treasury Department said on Wednesday that it will take in $312.21 million from the sale of two groups of warrants in Citigroup Inc .

The U.S. Treasury Department said on Wednesday that it will take in $312.21 million from the sale of two groups of warrants in Citigroup Inc .

The Treasury Department said on Wednesday it will take in $312.21 million from the sale of two groups of warrants in Citigroup Inc , shedding the last of its direct holdings at a profit two years after spending $45 billion to prop the bank up.

Wells Fargo & Co and U.S. Bancorp said low interest rates were squeezing lending profits, but improving credit quality helped both banks post higher fourth-quarter earnings.

Wells Fargo and US Bancorp said lending profits are being squeezed by low interest rates, but improving credit quality helped both banks post higher-than-expected fourth-quarter earnings.

(Corrects first paragraph to show both Wells Fargo and U.S. Bancorp posted higher, not higher-than-expected, earnings)

(Corrects first paragraph to show both Wells Fargo and U.S. Bancorp posted higher, not higher-than-expected, earnings)